jreeves
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- Feb 12, 2008
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U.S. may lose AAA-rating, Moody's warns_English_Xinhua
NEW YORK, Oct. 22 (Xinhua) -- The United States my lose its AAA-rating if it can not control its deficit hike, rating agency Moody's Investors Service warned on Thursday.
Steven Hess, Moody's lead analyst for the United States, said in a TV interview that the AAA rating of the United States is "not guaranteed." He said if the U.S. deficit does not drop to a sustainable level in the next three to four years, the U.S. rating will be "in jeopardy."
The U.S. government posted a record deficit of 1.417 trillion U.S. dollars in the fiscal year ended Sept. 30. Stimulus package to combat the severe recession and a series of bailout rescues to banks and automakers have put a heavy burden on government spending.
The Obama administration has predicted that deficits would top 1 trillion dollars through fiscal year 2011.
Does anyone realize what the implications of what a less than an AAA rating would do to lending and interest rates in this country? Thanks Obama and Congress for leading us down the path of economic destruction!
NEW YORK, Oct. 22 (Xinhua) -- The United States my lose its AAA-rating if it can not control its deficit hike, rating agency Moody's Investors Service warned on Thursday.
Steven Hess, Moody's lead analyst for the United States, said in a TV interview that the AAA rating of the United States is "not guaranteed." He said if the U.S. deficit does not drop to a sustainable level in the next three to four years, the U.S. rating will be "in jeopardy."
The U.S. government posted a record deficit of 1.417 trillion U.S. dollars in the fiscal year ended Sept. 30. Stimulus package to combat the severe recession and a series of bailout rescues to banks and automakers have put a heavy burden on government spending.
The Obama administration has predicted that deficits would top 1 trillion dollars through fiscal year 2011.
Does anyone realize what the implications of what a less than an AAA rating would do to lending and interest rates in this country? Thanks Obama and Congress for leading us down the path of economic destruction!